China Life Insurance (NYSE:LFC) Downgraded by Zacks Investment Research to Hold

China Life Insurance (NYSE:LFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “China Life Insurance Company Limited is the leading life insurance company in China’s life insurance market. The Company provides products and services including individual life insurance, group life insurance, accident and health insurance. The Company is China’s largest life insurance company, a leading provider of annuity products and life insurance for both individuals and groups, and a leading provider of accident and health insurance. Through its controlling shareholding in the China Life Insurance Assets Management Co., Ltd., the Company became China’s largest insurance asset management company and one of the largest institutional investors in China. “

NYSE LFC traded up $0.20 on Friday, hitting $10.24. The stock had a trading volume of 688,887 shares, compared to its average volume of 524,953. The stock has a market cap of $57.89 billion, a price-to-earnings ratio of 8.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.79 and a quick ratio of 8.79. China Life Insurance has a 52-week low of $9.05 and a 52-week high of $13.63. The business’s fifty day moving average price is $10.50 and its 200 day moving average price is $11.07.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC acquired a new position in China Life Insurance during the third quarter valued at $123,000. Verition Fund Management LLC acquired a new position in China Life Insurance during the fourth quarter valued at $126,000. Dynamic Technology Lab Private Ltd acquired a new position in China Life Insurance during the fourth quarter valued at $129,000. Legacy Wealth Asset Management LLC acquired a new position in China Life Insurance during the fourth quarter valued at $137,000. Finally, Brandywine Oak Private Wealth LLC acquired a new position in China Life Insurance during the fourth quarter valued at $150,000. Institutional investors own 0.24% of the company’s stock.

About China Life Insurance

China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. It operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses. The company offers individual and group life, annuity contracts, accident, and health insurance products.

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